Tuesday, Jun 17, 2008
Open letter to the Governer and the Chancellor
BBC News: Peston on the warpath
I don't recognise the economy you describe, even though I am supposed to live in it.
You could be referring to economic conditions on Mars, not the financial pressures facing our family.
The thrust of your letters appears to be that salaries and wages must, under no circumstances, rise to compensate for the squeeze in living standards precipitated by the recent jumps in fuel, power and food prices.
Mr King is implying that families like mine should grin and bear a fall in our living standards. Our main outgoings - food, energy and petrol - have gone up by much more than the 3.3% figure.
Posted by little professor @ 05:44 PM (1253 views) Add Comment
13 Comments
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1. confused76 said...
"Mr King is implying that families like mine should grin and bear a fall in our living standards, as a price worth paying for seeing the rate of increase in the consumer price index fall back to its target. The chancellor plainly agrees with him."
Peston is really a prize i@iot. Of course under no circumstance BoE has to let salaries escalate!
Peston, go buy a smaller car and ditch your Range Rover, and eat canned soup and not fresh veggies airlifted from Magadascar.
Of course every family can reduce fuel and food bills by changing habits
Am totally surprised a self professed Economic Editor misses such a basic point
What an i@iot
God save the Pound!
2. amjidk said...
Tax the super rich more, that will solve a lot of our problems...
3. Yerhavingalaugh said...
amjidk @ 2. It hasn't worked in the past. The so-called super rich would simply head off to more benign tax regimes taking their wealth, innovation and potential tax revenues with them. Not all of them are footballers and bankers!
4. robh said...
This is a letter from 'Peter 2.2' and not meant to be from him I think
5. Dentystu said...
your all crazy, we are being forced to sell our house, that we have fought hard to keep as we can't afford to feed the kids anymore! If we scrounged off the state we would have more spare cash in our pockets to spend on goodies. As it is we have a pride and are honest workers and all we get for it is a kick in the Kahooners! Thanks Gorden for ruining my kids lives!
6. Mattormsby said...
Its not my fault I paid too much for my house... YA IT IS MATE
But all those TV shows said I should...... YA THEY WERE LYING
But it didn't want to rent... its money down the drain...... IT IS YA... THATS WHAT WE'VE BEEN MOANING ABOUT FOR 3 YEARS
-----------------------------------------------------------------------------
House prices should never have been allowed to increase relative to wages. Consistent fibs about the real cost of inflation has meant that people have been able and banks willing to lend for too long. These days have been coming for a long time. The government is to blame. This is true. You got screwed when you signed you mortgage thats when it went wrong. Your now just beginning to realise what we all knew years ago...
7. landofconfusion said...
> 5. Dentystu said...
>
> If we scrounged off the state we would have more spare cash in our pockets to spend on goodies.
I agree completely. A friend of mine cut his hours a few months ago because doing so only left him a few quid worse off. It seems that if you have a large (5+ kids) family then you can get a lot out of the tax credit system.
Oh and he works 3 days a week and drives a people carrier.
8. Clueesnow said...
@C76.
I can only assume you don't have a young family with a single family income (C£30k), a family home with a £90k mortgage. Sorry no Range Rover Sports here, i'll bear in mind the canned soup, but we do have a small vegetable patch.
I think the article is fair.
9. Mytimeisnigh said...
He should of studied the economy more closely, buying a house eighteen months ago was a bad move.
10. Tastingstars said...
Peston's father is Lord Peston, a Labour peer. Man, this must have been a painful awakening for him.
11. confused76 said...
5 & 6.
Happy to vote labour when the feelgood was high?
12. landofconfusion said...
confused76 @ 7
I have never voted for a Liebour MP in my life and frankly I don't think I ever will now.
How that lot can sacrifice our liberties just to protect Mr Browns' job I will never understand. Roll on general election!
13. inbreda said...
Do the bank of england really expect people not to ask for more money? They don't seem to have batted an eyelid at the 23% increase that MPs are after.